First ask yourself if the defect was something you actually knew about before closing. Memories can fade quickly. Sometimes the reality or enormity of a problem doesn't sink in until you live in the house for a while.

For example, suppose there's standing water in the basement during the first heavy rainstorm after you move in. You're shocked at the amount of flooding, but when you view your house purchase file, you find a disclosure from the sellers stating that the basement floods in heavy rains. You were forewarned about the problem.

But let's say you look in your transaction file and you find no mention of a drainage problem at all. Sellers are supposed to disclose all known material defects to buyers. A material defect is one that would affect the buyers' decision to buy or the price they'd be willing to pay. In this case, you might have a legitimate legal claim against the sellers. Their agents could be liable too if they knew about the problem but failed to inform you about it. Real estate agents have a duty to disclose what they know.

The inspectors might have liability if they failed to discover defects you hired them to find. It's a good idea to use a house inspector who has errors and omissions insurance that can help pay such a claim. But be aware that most house inspectors attempt to limit their liability. These limitations vary, but the limit could be as low as the amount of the inspection fee (usually several hundred dollars). Check the contract you signed with the inspector at the time the inspection was done--a liability limitation will probably be included there. If there is a limitation, check with a real estate attorney regarding its enforceability.

Problems that develop in new homes may be covered under a contractor's warranty. Even if the contractor didn't give you an explicit written warranty on workmanship, state law may provide protection.

New appliances, systems (like a furnace, air conditioning, plumbing) and roofing materials may be covered by manufacturers' warranties. If the builder gave you a Home Warranty Plan from a third party, this may cover the defect. However, there are exclusions to coverage and the homeowner often has to pay a deductible amount. Minor problems in older homes may be covered by a Home Warranty plan, if one was purchased. Again, there are limitations and exclusions from coverage, and a deductible may apply.